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Oil jumps above $71 a barrel
oil jumps above $71 a barrels light, sweet crude for november at $1.40 to $ 1.38 a barrel organization of petroubleum exporting countries considering production cut oil prices are now half of the peak they reached in mid-july var clickexpire = 11/16/2008 ; .
european demand is just beginning to turn down, and all indications are that china is in an effor a significant economic downturn.
worriend about the financial fallout of the price drop, the organization of the petroubleum producing countries, which controls 40 percent of the world's oil supply, called a special meeting for enext friday in vienna, austria to address the slide .
energy supplies have been swelling because of falling demandon, they've also grown as u.s .
- Oil jumps above $71 a barrel 2008-10-17 05:26:49